By Federica Urso and Federico Maccioni

(Reuters) -CNH Industrial mentioned on Thursday its 2023 web gross sales of commercial actions would develop by 6-10%, after the group posted stronger-than-expected leads to the final quarter of 2022.

The trade confronted a number of headwinds in 2022, together with a uneven provide chain and inflation, however late within the yr these issues started to modestly enhance and the development ought to proceed into 2023, Chief Govt Scott Wine advised analysts.

The Italo-American farming and building machine maker forecast its 2023 free money circulation (FCF) of commercial actions at between $1.3 billion and $1.5 billion, in contrast with $1.6 billion final yr.

Regardless of a lesser impression of inflation on some areas, Wine mentioned worth rises would nonetheless need to be a part of the corporate’s technique going into 2023.

Trying additional forward, he mentioned, “we’re not saying that 2024 goes to be a horrible yr” however added that “it is unlikely that this very sturdy AG (agriculture) markets we have skilled for years goes to go on perpetually.”

The mix harvesters producer has re-positioned itself lately to suit its declared goal of feeding a rising world inhabitants.

The group has accelerated its investments in agriculture with a concentrate on automation and precision know-how reminiscent of driverless tillage or seed-by-seed planting to ship increased yields, reduce prices, and decrease its ecological impression.

Agriculture accounted for over 80% of CNH’s industrial revenues within the fourth quarter. General gross sales from industrial actions rose 31% at fixed foreign money to $6.35 billion, pushed by beneficial worth tendencies and better volumes.

Its adjusted working revenue of commercial actions rose to $680 billion, beating analysts’ expectations of $566 million based mostly on a market consensus offered by Intesa Sanpaolo (OTC:).

Earlier on Thursday the group mentioned it was planning to delist from Milan and preserve its shares buying and selling solely in New York.

Wine mentioned the corporate was focusing on the only real itemizing by the tip of this yr nevertheless it might be delayed till 2024.

CNH, which is able to suggest an annual money dividend of about $0.38 per share, additionally mentioned it welcomed the tip of a strike by two native unions at its factories in Wisconsin and Iowa.

(modifying by Gavin Jones)